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Thread: Daniel Defense Financing Your Next AR

  1. #111
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    Quote Originally Posted by justin_247 View Post
    That's why we had the economic crisis!

    720 is 130 points below the maximum and is not considered "excellent." It is considered to be in the "good" range and are in about the 60th percentile of the population, i.e., just above the average.
    http://credit.org/blog/what-is-a-goo...e-infographic/
    http://www.creditscoring.com/average/

    Well this is the first link that came up in my search and it seems to verify what I said. Either way I think we can both agree that 17.99% for someone over 700 is excessive.

    http://www.freescore.com/good-bad-cr...ore-range.aspx

    Also there's this: http://www.thetruthaboutcreditcards....t-score-range/

    760-799 Credit Score

    A credit score of 760-799 is considered good to great credit, and will typically result in interest rates and approval rates that a credit score in the 800-850+ bucket would yield. The only difference might be a few more pricing incentives at the 800-850+ range, and a more thorough credit check. But all in all, credit scores in this bucket are considered excellent and you really don’t need to worry if you scores fall in this category. In fact, roughly 27% of the population has a credit score of 750-799 alone.

    *High Achievers: FICO now considers individuals with FICO scores above 785 to be in a bracket all their own. It’s unclear if this will create another meaningful scoring threshold for creditors, but I wouldn’t be surprised.

    720-759 Credit Score

    A credit score in this range isn’t all that different from the 760-799 category, though there are some thresholds for FICO scores of 760 and above. For example, when applying for a mortgage, a borrower with a 760 credit score may secure a slightly lower interest rate than a borrower with a 730 credit score. But it’s unlikely that the 760 credit score will be required for approval. It simply leads to a more favorable interest rate, which means the more creditworthy borrower saves money!

    680-719 Credit Score

    A score in this bracket is still considered good credit if at the higher end, and average credit if closer to the lower end. Although it’s not perfect, you should still be able to qualify for most loans and auto or rental leases, although interest rates may be a little higher than those offered to borrowers with excellent credit. There will be situations where a credit score in this range will prevent you from getting certain types of financing, such as an A-paper mortgage loan or the lowest auto insurance premium, but it’s certainly not bad credit.
    Last edited by Safetyhit; 07-25-14 at 00:50.
    "Facit Omina Voluntas = The Will Decides" - Army Chief


  2. #112
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    I'm a cash kind of guy myself. Other then new vehicles, houses and such. Although we are paying cash for our new house, really good deal and not to expensive. Hopefully we'll close in 30 days or so.

    The only way a smart person would finance something like this would be to pay it off in 2 to 3 payments. To keep a running balance would be craze. Just my $0.02!

    NYH1.

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  3. #113
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    Quote Originally Posted by 223to45 View Post
    That be why I still have a 20 yr old 26" TV,
    Ha... I have a TV with knobs, dials and rabbit ears hooked to my analog cable box. I don't watch much TV.
    Up men! Up! And to your posts! Let no man forget today that he is from Old Virginia! - General George Pickett

  4. #114
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    Quote Originally Posted by ptmccain View Post
    If you have to ask that, you don't understand. Move along.
    Don't be a fanboy; I'm not someone who's been here for three days. I've seen their rifles and rifles of the competition. They are overpriced, and with their gas ports being larger than ideal it makes for an overall bad purchase decision. (They have verified in the NFA forum that their gas ports are sized larger than what it should be.)

    I could easily show you better offerings from BCM for hundreds of dollars less, but I won't waste my time. When you factor in 18% interest it just gets exponentially worse.

    Quote Originally Posted by wildcard600 View Post
    That sounds like a cop out answer.

    IMO
    Never attribute to malice what is most likely stupidity.
    Last edited by Eurodriver; 07-25-14 at 08:20.

  5. #115
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    I cannot see this as a good idea at all, if you are desperate for a HD weapon and low on funds go get a used Mossberg 12 gauge. If you can't afford a firearm then save up until you can. Simple as that. Unless you want to live a life of being in debt you should try to limit financing to big ticket items like a house and maybe a car. This is as bad as people financing their rims or tvs or sound systems, it is a luxury item that unless you have a job where you use such a rifle (and then your employer should be able to buy your firearm).

  6. #116
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    Quote Originally Posted by Safetyhit View Post
    Well this is the first link that came up in my search and it seems to verify what I said. Either way I think we can both agree that 17.99% for someone over 700 is excessive.

    http://www.freescore.com/good-bad-cr...ore-range.aspx

    Also there's this: http://www.thetruthaboutcreditcards....t-score-range/

    760-799 Credit Score

    A credit score of 760-799 is considered good to great credit, and will typically result in interest rates and approval rates that a credit score in the 800-850+ bucket would yield. The only difference might be a few more pricing incentives at the 800-850+ range, and a more thorough credit check. But all in all, credit scores in this bucket are considered excellent and you really don’t need to worry if you scores fall in this category. In fact, roughly 27% of the population has a credit score of 750-799 alone.

    *High Achievers: FICO now considers individuals with FICO scores above 785 to be in a bracket all their own. It’s unclear if this will create another meaningful scoring threshold for creditors, but I wouldn’t be surprised.

    720-759 Credit Score

    A credit score in this range isn’t all that different from the 760-799 category, though there are some thresholds for FICO scores of 760 and above. For example, when applying for a mortgage, a borrower with a 760 credit score may secure a slightly lower interest rate than a borrower with a 730 credit score. But it’s unlikely that the 760 credit score will be required for approval. It simply leads to a more favorable interest rate, which means the more creditworthy borrower saves money!

    680-719 Credit Score

    A score in this bracket is still considered good credit if at the higher end, and average credit if closer to the lower end. Although it’s not perfect, you should still be able to qualify for most loans and auto or rental leases, although interest rates may be a little higher than those offered to borrowers with excellent credit. There will be situations where a credit score in this range will prevent you from getting certain types of financing, such as an A-paper mortgage loan or the lowest auto insurance premium, but it’s certainly not bad credit.
    Good info there!!!

    Thanks.

    Sent from my SPH-L720 using Tapatalk

  7. #117
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    Quote Originally Posted by Safetyhit View Post
    680-719 Credit Score

    A score in this bracket is still considered good credit if at the higher end, and average credit if closer to the lower end. Although it’s not perfect, you should still be able to qualify for most loans and auto or rental leases, although interest rates may be a little higher than those offered to borrowers with excellent credit. There will be situations where a credit score in this range will prevent you from getting certain types of financing, such as an A-paper mortgage loan or the lowest auto insurance premium, but it’s certainly not bad credit.[/B]
    Hey, look, exactly what I was saying...

    And that still doesn't change the fact that a 720 is in the 60th percentile... it's very AVERAGE. 40% of people have better credit than this...

  8. #118
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    Ok so I called the financing company to get some more insight. According to Tom, supposedly one of there main guys who helped write the financing program for there DD partnership said... No matter what your credit score for the civilian market, it will be 17.99 across the board. Even with a 800's or perfect score. He said the risk is to high to offer less for civilians. He said that LEO sales will be able to get a better rate, but as time goes on, depending on success of the program, they will drop the rates. He also said with an option of early payoff without fees, that softens the blow. He did say that he knows that 17.99 is high. But with the risk, they could not go lower. He mentioned that there have been around 700 applicants so far. I asked him how they got this program going, and he said DD came to them and they worked out a deal. And surprisingly he then told me that they were working with Sig Sauer and Colt for the same offerings. Take that for what its worth but its just what I heard. So long story short. If you have a 850 score and are a civilian. You will still get 17.99%.
    Last edited by Jwknutson17; 07-25-14 at 10:48.

  9. #119
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    Quote Originally Posted by NYH1 View Post
    I'm a cash kind of guy myself. Other then new vehicles, houses and such. Although we are paying cash for our new house, really good deal and not to expensive. Hopefully we'll close in 30 days or so.

    The only way a smart person would finance something like this would be to pay it off in 2 to 3 payments. To keep a running balance would be craze. Just my $0.02!

    NYH1.
    That's the way I like to do things too, cash on the barrel. Just pay it off when the bill comes. Should be zero interest if paid in full.
    Give Me the Eyes of an Eagle.The Courage of a Lion and the Balls of a Combat Helicopter Pilot. ΜΟΛΩΝ ΛΑΒΕ

  10. #120
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    That BS, what makes LOEs better then us?? They are ready get a discount, now better financing too??
    The price of liberty is, always has been, and always will be blood: The person who is not willing to die for his liberty has already lost it to the first scoundrel who is willing to risk dying to violate that person's liberty! Are you free?
    --- Andrew Ford

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